Press Releases

Methane Hydrates Market Expands to Meet Environmental Needs

December 27, 2018

WELLESLEY, Mass., Dec. 27, 2018 – A critical natural resource to multiple industries, methane hydrates are primarily working to advance gas transportation methods. Additionally, methane acts as a prominent greenhouse gas, holding a significant percentage of the global greenhouse gas emissions in recent years and, as methane hydrates are becoming recognized as a potential clean hydrocarbon energy source, the global market is at a point of rapid growth.

The global market volume for methane hydrates is expected to grow from 17.8 thousand cubic meters in 2018 to 80.2 thousand cubic meters by 2023 at a compound annual growth rate (CAGR) of 35.1%, according to the report “Methane Hydrates: Applications and Global Markets Through 2023.”

Key players in the industry include: National Energy Technology Laboratory, Aker Solutions AS (AKRTF), Global Oil & Gas AG, Royal Dutch Shell PLC (RYDAF), Total S.A. (TTFNF), Inpex Corp. (IPXHF) and many others.

Research Highlights:

  • The market volume demand for the shallow shelve offshore gas hydrates in North America is expected to reach 2,724 TCM in 2023, growing at a CAGR of 34.7% from 2018-2023.
  • The global market volume demand for the shallow shelve offshore type was valued at more than 2,053 TCM in 2017 and projected to be 11,751 TCM in 2023, growing at a CAGR of 35.3% during the forecast period.
  • In 2017, the demand for onshore methane hydrate in Asia-Pacific was 2,582 TCM and is projected to be 16,584 TCM in 2023, growing at a CAGR of 37.9% during the forecast period from 2018 through 2023. 

Methane Leaks Top List of Market Restraints

Scientific studies have revealed methane leaks from soils and oceans in the Arctic, which has been subsequently raising concerns about the uncontrolled release of methane from hydrate formations. Thus, this is one of the major factors expected to hinder the global methane hydrate market.

Editors/reporters requesting analyst interviews should contact Eric Surber at press@bccresearch.com.

Methane Hydrates: Applications and Global Markets Through 2023( CHM091A )
Publish Date:     

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